If you are working toward saving money, one of the savings vehicles you may want to consider is a savings account. Savings accounts usually pay interest (although a relatively small amount) on the account, and your savings is generally protected by FDIC insurance. A savings account is relatively uncomplicated, but there are definitely some things to consider and evaluate before choosing and opening one.
Want to find the right bank for you?
Use this interactive tool to compare 12 banks and credit unions located in New Haven.
Want to talk to someone in person about how to begin saving?
Search our calendar of classes and register for our "Savings: How to Build Your Financial Future: workshop. The workshop will help participants identify ways they can save money to reach their goals. At the end of the class participants will be able to explain why it is important to save, identify saving options, and list ways to save for retirement and large goals like college, a car, a home, or a vacation.
Money Management International offers a wide range of planning and debt management services. Counseling sessions are free, though there are fees associated with setting up and administering Debt Management Plans. For more information and help please see: https://www.moneymanagement.org/fsp/premium-partner?rctag=nhfec
Want to start down the road to savings on your own?